EUR/JPY – 30M – SELL

The combination Euro/Japanese Yen (EUR/JPY) moves from the bearish trendline down.

A continuation of the downward movement downwards to the next support line at 166.02800 is considered certain.

Caution: A possible change in the direction of the resistance level at 167.05300 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 166.028 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 167.05300 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Collapsing Doji Star’ chart pattern is detected. The candles form ‘Collapsing Doji Star’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Collapsing Doji Star’ heading down is 63% (Bull Market).

167.05300 – 167.04700 – 167.58500 – 166.02800 – 166.32000 – 166.69900

Trading Signals: FOREX – EUR – EUR/JPY – JPY – Collapsing Doji Star